Yes, we can all agree there’s historic vacation communities where STRs have an informal historic precedent or maintain a supply/demand advantage that makes regulation unattractive to local municipalities, but there’s plenty of others where the investors have overbought, managed properties poorly, and are now part of a perception problem that’s driving bad legislation atop stupid headlines of irresponsible investors who think they’re operating in an ATM industry versus hospitality. 

When dealing with a contractor ask for their proposal and scope of work don't ever work without a scope of work. 

The ordinance may require a permit to be obtained for the creation of a junior accessory dwelling unit, and shall do all of the following:(1) Limit the number of junior accessory dwelling units to one per residential lot zoned for single-family residences with a single-family residence built, or proposed to be built, on the lot.(2) Require owner-occupancy in the single-family residence in which the junior accessory dwelling unit will be permitted.

Please let me know: 1. your opinion of my proposed schedule, 2. your experience with HML and SOW, and 3. most importantly the changes you would make to my schedule:SOW: Initial down payment of $1000 or 10% (whichever is lower)Demo, order and pay for materials needed for items to be completed before the first drawDraw 1: Foundation, Ext framing, mold, pest, trees, septicDraw 2: Roof, waterproofing, int framing, siding/brick repair, ext HVACDraw 3: gutters, concrete, plumbing, subfloor, ext electrical, ext trim, sheetrock, insulation, int HVAC, windows (I was told these take a while to get delivered but my thought is is framing, ext repair/trim are complete these would be a good time for them?)

. $300K as I put a hefty amount down through that 1031 exchange).Current offer on the table proposed by my broker:$600K Purchase price7 year lease with option to purchase within 3 years for an amount equal to $600K less what they would have otherwise paid in principal under under a 7% loan for the same period). 

Not to mention the fact that there is a piece of legislation set to be on the November ballot that can really hinder a landlord's ability to maximize profits with new tenants.

Further it gives you a cause of action for tenant holding over when the lease ends, which many a landlord were very thankful for during COVID.You can always add a month to month addendum in the future if you come to an appropriate rent for a proposed month to month tenancy. 

The 2024 legislative session just ended with nothing. 

That trend stopped after the 70's but manufactured housing was a major contributor towards creating stable affordable housing.If we want to tackle our housing shortage we need to get serious about it.Here is a quick summary of the HUD changes: HUD Actions for Manufactured Homes and Communities:HUD announces a comprehensive set of actions to increase availability and affordability of manufactured homes.These actions are part of the Biden-Harris Administration's Housing Supply Action Plan.Manufactured housing is a key component in the strategy to boost housing supply and reduce costs.Preservation and Reinvestment Initiative for Community Enhancement (PRICE) Program:HUD launches the PRICE Program, a $225 million competitive grant opportunity.The program aims to preserve and revitalize manufactured housing and communities.Funding supports repairs, rehabilitation, replacement of units, infrastructure upgrades, and community resilience.Available to states, local jurisdictions, tribes, nonprofits, community development finance institutions, and other eligible entities.FHA Draft Policy for Manufactured Home Communities:FHA posts a draft policy to solicit public feedback.The policy aims to promote stability and affordability for individuals and families in existing manufactured home communities.Allows resident-owned cooperatives and mission-oriented borrowers to access FHA-insured financing for purchasing or refinancing.Updates to FHA's Title I Manufactured Home Loan Program:HUD announces updates to FHA's Title I Manufactured Home Loan Program.New methodologies for calculating loan limits to align with current market pricing.Expects the new loan limits to incentivize more lenders to participate and expand program usage by buyers of manufactured housing.Annual Recalculation of Title I Loan Program Limits:FHA will recalculate Title I loan limits annually to keep pace with home price changes over time.This ensures that the loan limits remain aligned with market conditions.Ginnie Mae's Title I Loan Securitization Program:Ginnie Mae takes steps to reinvigorate its Title I Loan Securitization program.Revisions to financial eligibility requirements for Title I Issuers to reduce barriers and increase lender participation.HUD's Ongoing Support for Manufactured Housing:These actions build on HUD's continuous efforts to support manufactured housing.Earlier actions include a proposed rule for the Community Development Block Grant (CDBG) program emphasizing the needs of manufactured housing communities.Recent Updates to CDBG Notice:HUD updated the CDBG in Support of Housing Activities notice to allow the use of funds for acquisition of manufactured housing units, services to homeowners, and investments in infrastructure and resilience for manufactured housing communities.

Propose a flat rent for 2 years, slightly higher than their current rate, say $2,895, and include a predetermined annual increase of $2-3%.